Everstone combines Wingify, AB Tasty for $100M+ digital experience optimization platform

Everstone Capital, a private equity firm, has announced its strategic merger of India's Wingify and France's AB Tasty, aiming to create a robust digital experience optimization platform valued at over $100 million. This significant move comes less than a year after Everstone acquired a controlling interest in Wingify for $200 million. The newly formed entity will cater to a global clientele exceeding 4,000 customers, generating an annual revenue of over $100 million, predominantly sourced from markets in the U.S. and Europe. Both companies emphasize that they will continue to operate with a collaborative spirit, leveraging their respective strengths to meet the increasing demand for integrated digital experience solutions. Sparsh Gupta, co-founder of Wingify, has been appointed as the CEO of the merged company, while Everstone remains the principal institutional investor. In an interview, Gupta highlighted the plan to enhance AI-driven capabilities over time, ensuring that customer experiences remain consistent as they gradually enrich the platform's features. Gupta also noted that the merger is not about cost reduction; rather, it focuses on creating value. The combined workforce will consist of nearly 800 employees across 11 global offices, with approximately 350 staff based outside India. The headquarters will be located in New Delhi. Wingify, established in 2010, is recognized for its flagship product, VWO, which aids businesses in enhancing online conversion rates. AB Tasty, founded in 2014, offers software for experimentation and personalization, servicing over 1,000 brands including L’Oréal and Samsonite. Together, this merger positions the new company to compete more effectively against established players like Optimizely and Adobe. This merger is part of a broader trend in the tech industry where private equity firms are consolidating marketing and product software to create scalable, AI-enabled platforms for enterprise clients. As outlined in recent industry reports, the M&A activity in enterprise SaaS has surged significantly, with private equity firms leading the charge. Following the merger, Everstone will maintain majority control and board representation, with plans to support the new entity through expert advisory resources. The collaboration between VWO and AB Tasty is anticipated to yield one of the most comprehensive product offerings in the digital experience optimization sector, as stated by Sandeep Singh, managing director at Everstone Capital.